JEFMS Journal

ABSTRACT:

This study aims to see the dynamic pattern of the relationship between CO2 emissions and economic growth, industrialization, population growth, and renewable energy in the long and short term in ASEAN 5 countries, namely Indonesia, Malaysia, Thailand, Philippines and Singapore. ASEAN is a region of countries that have the potential for natural resources and high economic activity as well as being a strategic area in global trade flows. In addition, the ASEAN region, especially ASEAN 5, has a fairly rapid capacity and socio-economic activity so that its mobility is important to note. The VECM method is used to determine this objective by using panel data sourced from the Worldbank. The results of the analysis show that in the long term, population growth and consumption of renewable energy significantly affect CO2 emissions in the ASEAN 5 region. Meanwhile, in the short term, industrialization and consumption of renewable energy significantly affect CO2 emissions in the ASEAN region 5.

Keywords-

CO2 emissions, renewable energy, industrialization, economic growth

References-

1) Akenroye, T, O. 2018. Towards implementation of sustainable development goals (SDGs) in developing nations: A useful funding framework. International Area Studies Review, 21(1), 3–8. https://doi.org/10.1177/2233865917743357.

2) Alam, Mahmudul..; Murad, Md. Wahid.; Hanifa Md, Abu.; and Noman, Ilhan Ozturk. 2016. Relationships among carbon emissions, economic growth, energy consumption and population growth: Testing Environmental Kuznets Curve hypothesis for Brazil, China, India and Indonesia. Ecological Indicators 70 (2016) 466–479.

3) ASEAN Corporation. 2020. ASEAN Sustainable Development Goals Indicators Baseline Report 2020.

4) ASEAN Secretary. 2017. Fifth ASEAN State of the Environment Report. www.asean.org.

5) Bhattacharya, Amar.; Oppenheim, Jeremy.; and Stern, Nicholas. 2015. Driving Sustainable Development Through Better Infrastructure: Key Elements Of A Transformation Program. Global Economy & Development Working Paper 91 | July 2015.

6) Chakraborty SK.; and Mazzanti M. 2020. Energy intensity and green energy innovation: Checking heterogeneous country effects in the OECD. Struct Change Econ Dyn 2020;52:328–43.

7) Chen, H.; Zhang, X.; Wu, R.; and Cai, T. 2020. Revisiting the environmental Kuznets curve for city-level CO2 emissions: based on corrected NPP-VIIRS nighttime light data in China. Journal of Cleaner Production 268 (2020) 121575.

8) CISL. 2017. Towards a sustainable economy. “The commercial imperative for business to deliver the UN Sustainable Development Goals. University of Cambridge, Institute for Sustainable Leadership.

9) Gold, Rachel. 2015. Brief for GSDR 2015 The Concept of Sustainable Development: Definition and Defining Principles. Florida International University.

10) Hasudungan, Albert.; and Neilson, Jeffrey. 2020. The Institutional Environment of the Palm Oil Value Chain and Its Impact on Community Development in Kapuas Hulu, Indonesia, Southeast Asian Studies, Vol. 9, No. 3, December 2020, pp.439-465.

11) Holden, E. et al. 2014. Sustainable development: Our Common Future revisited. Glob. environment. Chang. 26, 130– 139. https://doi.org/10.1016/j.gloenvcha.2014.04.006 https://environment.asean.org/asean-working-group-on climate-change/.

12) Jaramillo-nieves, L.; and Río, P. 2010. Contribution of Renewable Energy Sources to the Sustainable Development of Islands: An Overview of the Literature and a Research Agenda. Sustainability, 783–811. https://doi.org/10.3390/su2030783.

13) Kumi, E. et al. 2019. The Extractive Industries and Society Private sector participation in advancing the Sustainable Development Goals ( SDGs ) in Ghana : Experiences from the mining and telecommunications sectors. The Extractive Industries and Society, (December 2018), 1–10. https://doi.org/10.1016/j.exis.2019.12.008.

14) Kuznets, S. 1955. Economic growth and income inequality. American Economic Review, 49:1–28.

15) Kyn, P. 2020. Composite index as a measure on achieving Sustainable Development Goal 9 ( SDG-9) industry-related targets: The SDG-9 index, 265 (September 2019). https://doi.org/10.1016/j.apenergi.2020.114755.

16) Kyncova, P.; Upadhyaya, S.; and Nice, Thomas. 2020. Composite index as a measure on achieving Sustainable Development Goal 9 (SDG-9) industry-related targets: The SDG-9 index. Applied Energy 265:114755 DOI: 10.1016/j.apenergy.2020.114755 .

17) Mensah, Justice. 2019. Sustainable development: Meaning, history, principles, pillars, and implications for human action: Literature review. Cogent Social Sciences 5:1, 1653531.

18) Navarrete, S. et al. 2020. Environmental upgrading and the United Nations Sustainable Development Goals. Journal of Cleaner Production 264 (2020) 121563.

19) OECD. 2013. Towards Green Growth in Southeast Asia Solutions for Policy Makers. www.oecd.org.

20) Sachs Jeffrey D. et al. 2019. Six Transformations to achieve the Sustainable Development Goals. Nature Sustainability 2019; 2:805–14.

21) Sandin Gustav.; and Peters Greg M. 2018. Environmental impact of textile reuse and recycling – A review. J Cleaner Prod 2018;184:353–65.

22) Surjaningsih, Utari.; and Trisnanto. 2012. Impact of Fiscal Policy on Output and Inflation. Bulletin of Monetary, Economics and Banking.

23) UN Global Compact Bulletin - April 2014. Newsletter 2014. https://www.unglobalcompact.org/library/2281

24) UNIDO. Industrial Development Report 2016. UNIDO, Vienna; 2016

25) Wang, SX.; Fu, YB.; and Zhang, ZG. 2015. Population growth and the environmental Kuznets curve. China Economic Review 36 (2015) 146–165.

26) Winnie, B. 2015. SDG Implementation Framework Effective public service for SDG implementation.

27) Yin Kuo, Chen. 2016. Does The Vector Error Correction Model Perform Better Than Others In Forecasting Stock Price? An Application Of Residual Income Valuation Theory. Economic Modeling 52 (2016) 772–789.